How To Market a Financial Business

How To Market a Financial Business

Share this Article

How To Market a Financial Business

There’s no question that people need financial institutions. Individuals need banks and credit unions to store and manage their money. Businesses need investments from investment firms, as well as advice from accountants or financial advisors. The demand is there and the role of the marketing professional is to drive that demand to your financial business. So how do you market a financial business? Here are a few of our tips:

#1 – Customer Outreach

Before searching for new customers, consider reaching out to your current customers. Ask them about their satisfaction with your services, and let them know about some of the services they might not be taking advantage of. For instance, maybe the thirty-something professional who wants to build their credit might be interested in opening a credit line with their bank. A new entrepreneur might be interested in their accountant’s side service of startup consulting.

These are customers who already know and appreciate your business. By letting them know about your other services, you stand a greater chance that they will continue to work with you in other facets rather than going elsewhere for those services.

#2 – Have a Strong, User-Friendly Website

A good website is an important asset to any digital marketing strategy, but especially financial services. Statistics show that 61% of bank customers use digital banking services at least once per week. On a website for a financial institution, users can both view your services and company mission but can even log into their account and conduct some of their own money management.

That’s why it’s so essential that your website be user-friendly. Navigation should be clear, with secure logins that aren’t too complicated for the average user to handle. The interface should be aesthetically pleasing, but not so much that it slows down the performance of your website. Test your website on desktop and mobile to make sure the user experience is seamless.

#3 – Create a Company Culture

What is the culture of your financial institution? Do you have decades of experience as a local financial establishment? Do you bring a human element to accounting? Do you offer a special expertise that your competition doesn’t have?

Consider your values and vision, as well as what sets your company apart. This all makes up the culture of your company, which you should work into your marketing wherever possible. Let your culture be at the center of your sales pitches, your ads, and your social media posts.

#4 – Figure Out Your Target Audience

Rather than trying to market your financial institution to anyone and everyone, try to hone in on a particular audience. For instance, a credit union might be focused on individuals who want to build their credit, while an investment firm might want to help fund a specific industry of businesses. Specializing in one particular audience can help build your trust and authority with that customer base, and it can help your company to stand out.

Consider your ideal customer. You may even create a target audience profile in order to get a clearer picture of who you are targeting and what their needs might be. If you choose to address a few different markets, you can create a few different target audience profiles. This keeps your marketing specific, rather than targeted at just anyone, while still branching out.

#5 – Prioritize Relevance Over Awareness

Too often, marketers prioritize awareness over all else, trying to drive as much traffic as possible to their business. However, this could be an issue if your business has underplayed relevance. You may have plenty of traffic to your business, but those website or social media views may not go anywhere if the audience does not feel that your business is relevant to them.

Once you’ve figured out your target audience, do some market research to learn their needs and demands in the industry. Make sure your firm meets those needs, and make sure the way you meet those needs is featured in your marketing. Your audience needs to know, first and foremost, that your financial institution is the answer to their problems.

#6 – Highlight Your Skills

What is your financial institution especially good at handling, and how does that relate to your target audience? What are your strengths? Maybe you give chances to customers who are “higher risk” than average. Or maybe your tax accounting services are award winning. Make sure you show off those skills and any credentials you may have that back them up in order to add authority and expertise to your branding.

More To Explore

Ready To Generate More Leads for Your Business?

Click on the button below to book a Free consultation